|
Report Date : |
06.12.2014 |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised. |
Credit not
recommended |
|
Status : |
No Trace |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Lebanon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LEBANON - ECONOMIC OVERVIEW
Lebanon has a free-market
economy and a strong laissez-faire commercial tradition. The government does
not restrict foreign investment; however, the investment climate suffers from
red tape, corruption, arbitrary licensing decisions, complex customs
procedures, high taxes, tariffs, and fees, archaic legislation, and weak
intellectual property rights. The Lebanese economy is service-oriented; main
growth sectors include banking and tourism. The 1975-90 civil war seriously
damaged Lebanon's economic infrastructure, cut national output by half, and
derailed Lebanon's position as a Middle Eastern entrepot and banking hub.
Following the civil war, Lebanon rebuilt much of its war-torn physical and
financial infrastructure by borrowing heavily, mostly from domestic banks,
which saddled the government with a huge debt burden. Pledges of economic and
financial reforms made at separate international donor conferences during the
2000s have mostly gone unfulfilled, including those made during the Paris III
Donor Conference in 2007 following the July 2006 war. The collapse of the
MIKATI government in early 2011 over its backing of the Special Tribunal for
Lebanon and the conflict in neighboring Syria slowed economic growth to the
1-2% range in 2011-13, after four years of 8% average growth. In September 2011
the Cabinet endorsed a bill that would provide $1.2 billion in funding to
improve Lebanon's downtrodden electricity sector, but fiscal limitations will
test the government's ability to invest in other areas, such as water.
|
Source
: CIA |
ABOU MERHI CRUISES
(AMC) SAL
Building : Atrium Building,
Property No. 1455/26
Street : Weygand Street
Area : Nejmeh Sector
PO Box : 17501
Town : Beirut
Country : Lebanon
Telephone : (961-1) 969999
Facsimile : (961-1) 969999
Email : info@aboumerhicruises.com
Local
correspondents tried to speak to the subject but Mr Wessam, a company
spokesman, refused to divulge any more information on the members of the Abou
Merhi group without knowing who was enquiring about them.
Should you be able
to provide us with any further information on the subject of your enquiry we
shall re-investigate and endeavour to send you a full report as soon as
possible.
Important Note:
Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.